Akin Advises LetterOne on $11.2 Billion Harbour Energy Acquisition of Wintershall Dea Assets
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(London) – Akin advised LetterOne (L1) on an agreement to transfer the majority of Wintershall Dea’s non-Russia related upstream business to London-listed Harbour Energy plc, the U.K.’s largest oil and gas producer, for a total consideration of $11.2 billion.
As a result of the transaction, L1, which owns 27.3 per cent of Wintershall Dea shares, will receive a cash consideration and a minority shareholding in the newly combined company.
The transaction will create one of the world’s largest and most geographically diverse independent oil and gas companies, domiciled in the U.K., with the scale, reach and international connectivity to manage energy volatility and capitalize on the energy transition.
The Akin team advising L1 was led by corporate & finance partners Shaun Lascelles and Amy Kennedy with associates George O’Malley and Ben Balzan. They were joined by antitrust & international competition partner Davina Garrod and associates Kadambari Chinoy and Tommi Lahtinen; and disputes & investigations partner Kambiz Larizadeh.
The transaction signed on December 21, 2023, and further details can be found here.
Akin is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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